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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (59367)	5/28/2024 3:29:36 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69913

Commodity Update Natural gas at a critical stage. It broke out of the 2.75 level and then pullbacked to re-test that level. The 2.75 and 2.50 are important as a break setups at test of 2.00. Copper on the verge of breaking the 20 day ema but holding for now. 50 and 150 day ema say the intermediate and long term trend are still up. This seem like it is still an access to supply rally as opposed to a heavy demand in the future issue. Timber still near the 52 week high. Normally this would indicate a strong start to housing starts but the demand in key markets in terms of price and supply would not support it. Platinum touched the 20 day EMA and bouned. Still in an uptrend in the intermediate and long term timeframe. Is there a re-bound in car demand coming? Energy below the first support level. Next key level is near 85. It looks like traders are discounting mid-east instability and a re-bound in the Chinese economy for now. US energy independence re-balancing the trade on oil? Gold below the 20 day ema so short term negative. Still up in the intermediate and long term. Just profit taking for now. Silver following gold but a little strong now after lagging for many months. Shift in focus to a catch up in the price of silver relative to gold? Silver still bullish in all timeframe.